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The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, focused on amending GST slabs, easing compliance, and executing next-generation GST reforms. FMCG, auto, and cement sectors are expected to benefit under the proposed tax cuts, ensuring relief for consumers. The first day of the meeting on 3rd September revolved around […]
The Water Quality India Association (WQIA) has requested that the central government lower the GST rate on water purifiers, filters, and related services from 18% to 5%. They argue that the current high taxes make these essential items too expensive for many people and emphasise that making safe drinking water more affordable is important for […]
The ITAT Mumbai Bench has ruled that payments made to foreign agents for services provided entirely outside of India do not need to be taxed in India. As a result, businesses are not required to deduct TDS from these payments. The taxpayer, Manisha Kiran Temkar, was in the international merchant trade under the name M/s. […]
The Gujarat Chamber of Commerce and Industry has urged Finance Minister Nirmala Sitharaman, in a letter, to ease the GST framework by issuing industry-specific guidance notes, as the government is working on next-generation GST reforms. Nayan Sheth, chairman of the indirect tax committee of the GCCI, cited that the devotion of the government to lessen […]
The Karnataka garment and hosiery sector is calling for significant changes in the Goods and Services Tax (GST) structure. Industry representatives are urging the GST Council to establish a uniform 5% tax rate on apparel and hosiery products and to include petroleum products within the GST framework. They argue that the existing system of multiple […]
The recent report from the Comptroller and Auditor General (CAG) about Karnataka’s finances reveals some important issues. It showed that there were problems with how taxes were managed and enforced in various government departments. These issues led to a significant loss of revenue, totalling ₹1,260.41 crore. The findings of the report were shared in the […]
The amended GST structure may overhaul the categorisation of passenger vehicles and the tax slabs under which they fall, thereby reducing the burden on entry-level cars. The move aims to address distortions that have developed in the auto tax structure over the years. At present, most items are taxed at 28%, but the proposal is […]
The limitation for GST refund claimed under the wrong head ceases to apply from the date of correct payment, the Patna High Court has ruled. After reading Section 77 of the CGST Act, 2017, read with Section 19 of the IGST Act, Justices Rajeev Ranjan Prasad and Shailendra Singh viewed that the date of counting […]
Prime Minister Narendra Modi recently discussed a new Goods and Services Tax (GST) system in his Independence Day speech, highlighting that this new approach will focus on benefiting everyday consumers, especially those who are less fortunate, small businesses, the middle class, and farmers. As per sources, the new two-tier GST structure of 18% and 5% […]
